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PROPERTY INFO
FACTS
- Single Family
- Built In 2001
- Price/Sqft : $224.72
- 6 Days on Market
- MLS # : IV21001853
- Updated Date : 01/05/2021 at 13:49
CONSTRUCTION
- Beds : 3
- Floor Size : 2,447 sqft
- Baths : 2 full
Listing Agent
Windermere R.e. Tower Prop.
Listing Agent's Description
Located in the Heart of Desirable Orangecrest, This POOL Home is near Shopping, Churches, Orange Terrace Community Park and Much More...Interior Offers Large Living Room, Kitchen with Center Island with Cabinets which Opens to Family room with Fireplace with Access to Backyard, 3/4 Bathroom, Office / Study or possible Bedroom Downstairs....Upstairs, Enter the Master Bedroom through Double Doors and Find Great Space with Walk In Closet, Dual Sinks in Master Bathroom with Separate Tub and Shower... Adjacent to Master Bedroom is Nook that can be used for Study Area, Office, Reading Area...2 Nice Additional Bedrooms with Shared Full Bathroom and Indoor Laundry Room Compliment the Balance of Interior.... The Backyard has a Tropical Feel with Palm Trees and Beautiful Pool and Spa... 3 Car Garage and RV Parking .......
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MARKET HIGHLIGHTS
- Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
- Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
- Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
- The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
- Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
- As part of Southern California area, Inland Empire market inherits all the benefits from the area.
PRICE & RENT TRENDS
Neighborhood: Orangecrest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Orangecrest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,560 |
| EXPENSES | Loan Payment | -$1,910 |
| Property Tax | -$521 | |
| Property Insurance | -$86 | |
| Property Management Fees | -$151 | |
|
CASH FLOW
-$109
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.
$549,900
PROJECTED PRICE
$2,560
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 6.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$151,474
LOAN DETAILS
$1,910
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $137,475 |
| Loan Amount | $412,425 |
4.58
YEARS SAVED
$26,005
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,560
LIST RENT -
$1.05
LIST RENT PER SQFT
-
$2,655
COMP ESTIMATED VALUE -
$1.09
COMP AVG. RENT PER SQFT
Comps Range
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8393 Plainview Street Riverside, CA 2
- 3 beds 2 baths ∙ 2,447 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,447 Sqft ∙ Built 2001
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- Rent
- Rent Per SQFT
- $2,560
- $1.05
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19602 John F Kennedy Drive Riverside, CA 1
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LEASED 03/29/20- Rent
- Rent Per SQFT
- $2,395
- $0.99
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19429 Rotterdam Street Riverside, CA 3
- 4 beds 4 baths ∙ 2,324 Sqft ∙ Built 2001 4 beds 4 baths ∙ 2,324 Sqft ∙ Built 2001
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LEASED 02/01/20- Rent
- Rent Per SQFT
- $2,600
- $1.12
-
19688 Allenhurst Street Riverside, CA 4
- 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2001
![property image]()
LEASED 07/14/20- Rent
- Rent Per SQFT
- $2,750
- $1.12
-
19550 Fortunello Avenue Riverside, CA 5
- 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2018
![property image]()
LEASED 09/01/20- Rent
- Rent Per SQFT
- $2,800
- $1.11
PROPERTY LISTING DETAILS
Windermere R.e. Tower Prop.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV21001853
Last Updated: 01/05/2021
